ALBANY, New York, September 25, 2018 /PRNewswire/ --
The global UV disinfection equipment market depictsthe presence of a highly consolidated vendor landscape, says Transparency Market Research on the basis of a newly published report. Such a consolidation is mainly present owing to a large chunk of market shares owned by a handful of the players. Severn
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A key trait present in this competitive landscape involves presence of numerous private companies compared to the existence of public ones. Most players are focusing on developing and designing better equipment and devices. In addition, bringing forth key innovations to improve product portfolios also is a key scheme implemented by most players operating in the global disinfection equipment market. With rapid technological advancements, most well-settled players are executing their strategies and reforms with a high level of precision, thus leading towards a splendid growth witnessed by the global UV disinfection equipment market.
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According to expert analysts, this market is projected to expand at a stellar CAGR of 17.40% during the forecast period between 2017 and 2025. With this CAGR, the UV disinfection market is anticipated to register revenue worth US$6.73 bn by 2025, which is a decent rise after an earlier revenue worth US1.62 bn gained in 2016. On the basis of application, the water and wastewater segment held a leading edge over the others. This is mainly due to an ever-increasing demand of clean and potable water necessary for various day-to-day application.
Based on the application of UV disinfectant equipment, the water and wastewater treatment segment is projected to hold the topmost share amongst all other segments in this category.
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Rising Environmental and Water Scarcity Crisis Increase Purification Demand
With severe environmental crisis going on, a dramatic need for effective techniques for water purification that do not harm the environment is primarily responsible for driving the global disinfection equipment market. This is mainly due to important disinfection-based properties present in UV rays, thus making them highly useful for use in water treatment scenarios. Declining fresh water reserves has put a large onus on local and international authorities to reuse available water after purifying it, consequently leading to an increase in demand for UV disinfection equipment. Furthermore, with rising awareness about the advantages of UV disinfection technology, many treatment plants prefer using this technique, hence largely contributing towards the global disinfection equipment market's performance. Lastly, UV disinfection does not affect aquatic life in any manner, thereby being a highly sought-after technique, thus driving the associated market.
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High Costs of Disinfection Equipment Stunt Expansion
However, UV disinfection technology is still in its early stages, and is quite expensive to utilize in different fields. This makes utilization of this technique substantially expensive, thereby posing as a key restraint to the global UV disinfection equipment market's expansion. Moreover, small-scale industries might find it somewhat difficult to afford high-priced devices and equipment, thus preferring to employ conventional means and other alternatives. Such a preference too hinders the global UV disinfection equipment market.
Nevertheless, a substantially high demand for purified water in large-scale commercial plants is expected to keep up the demand of UV disinfection processes, thereby boosting demand for the technique. In this way, effects of most restrains affecting the market are expected to decrease up to a certain extent.
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The review is based on TMR's research report, titled, "UV Disinfection Equipment Market (Application - Water, Wastewater, Air, Food and Beverages, and Surface) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
Key segments of the global UV disinfection equipment market:
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SOURCE Transparency Market Research
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